Credo Technology Group (NASDAQ:CRDO) stock climbed Monday after Wall Street analysts raised their outlook on the AI connectivity chipmaker.
On Monday, Stifel maintained its Buy rating on Credo and increased its price forecast to $350. Evercore ISI Group initiated coverage on Credo with an Outperform rating. The firm announced a price forecast of $325.
The update follows recent recommendations from market commentator Jim Cramer, who recommended holding the stock on June 15, describing the company as “just so good.”
Credo Technology Q4
The analyst upgrades follow Credo’s fiscal fourth-quarter earnings report, published after the market close on June 1. The company posted revenue of $437 million, beating analyst estimates of $432.05 million. Adjusted earnings reached $1.16 per share, ahead of expectations of $1.03 per share.
Total revenue rose 157% year-over-year, supported by $1.4 billion in cash and short-term investments. Despite the earnings beat, the stock initially fell 13.67% to $195.32 during after-hours trading on June 1 due to short-term trader de-risking.
Workplace Honors and Corporate Mission
The market performance also follows a June 18, announcement that Credo earned 2026 National and Regional Top Workplace honors. Commenting on the culture, CEO Bill Brennan stated, “At Credo, we believe that strong teams, a shared sense of purpose, and a culture of trust and respect are essential to long-term success.”
CRDO’s Key Support and Resistance Levels
CRDO is in a clear long-term uptrend, trading well above every major moving average: about 23.8% above the 20-day SMA ($231.84) and roughly 86.8% above the 200-day SMA ($153.60).
Trend structure has stayed constructive since the golden cross in May (the 50-day SMA moving above the 200-day SMA), and the stock has continued to build on that bullish backdrop.
- Key Resistance: $274.90
- Key Support: $231.84
Credo Technology Price Action
CRDO Price Action: Credo Technology Group shares were up 5.04% at $285.52 during premarket trading on Monday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
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